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Your World With Neil Cavuto

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Virginia 12, Sandy 7, New Jersey 7, New York 7, West Virginia 7, United States 4, Maryland 4, Lifelock 3, Medicare 3, America 3, Washington 3, New York City 3, Northern Virginia 3, Holland 2, Unitedhealthcare Insurance Company 2, Geico 2, Janice 2, Marie Callender 2, Delaware 2, Atlantic City 2,
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  FOX News    Your World With Neil Cavuto    News/Business. Money tips  
   from Wall Street. New. (CC)  

    October 29, 2012
    1:00 - 2:00pm PDT  

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island, barometer of 942 millibars and this one is stronger. and it's on the way. >>neil: we got word now that the governor romney cuomo of new york has deployed the national guard to take up residence in the streets of manhattan, and if it is a significant group it would be reminiscent of after help help when -- 9/11 when the national guard was last used like this. and now an eye on hurricane sandy hours away from hitting land and it will hit the middle of new jersey, around atlantic city at a time when this storm has already been causing havoc among the most populated regions of the country, stepping back from this, this is an area that
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affected one out of five living americans and if you citizen the reach beyond those directly impacted to those who could be in the days and weeks appear you are talking about one in four members. so, a cobs station with a population that obviously doesn't need any further explanation. we should also let you know they are shutting this island of manhattan down. already the brooklyn battery and holland tunnel and to and from the lower part of manhattan are shut down and the north most bridge on the island is shut down. but the mayor has made it clear if the wins pick up he would shut down virtually all remaining arteries connecting this city to the rest of the world. so, america's premiere city would be blocked down not seen since 9/11. and the crane has been getting a
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good deal of attention and this is outside a building known as 157, a building that has had a lot of attention because it will be the tallest residential structure in the world when completed but because it is directly opposite central park and commands some of the most eye popping prices in the world. for example, the penthouse fetching $100 million. average prices for the units in this building along central park are around $10 million. so, obviously this is something everyone is watching closely and this area in and around central park southbound has been shut down right now around the 57th street area through 7th avenue and we are teaching an eye -- keeping an eye in point pleasant in new jersey. rick? rick: two hours ago we clocked
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a gust up 57 miles per hour. it is stronger now. we are going to go up to the 60's. high tide is approaching. we are three or four hours away and the water is rising. we are now getting waves pushing up beyond our feet on the beach. not yet encroaching on the boardwalk but everything is shut down here anyway. no water yet but other streets in the ocean front community are flooded and further south in atlantic city they have several feet of water on the road and they are rescuing residents who didn't heed the mandatory evacuation order with lifeboats and lie-water vehicles. the situation across new jersey is dire. they have shut down the garden state parkway from the 120's to cape may as the water is over my feet. i don't know if you can see the waves because it is white out conditions here but the seas are churning. i estimate some of the waves are 10' to 12' and it will be worse.
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the speeds will pick up and we will have hurricane force winds in the next couple of years at point pleasant. it is a nasty situation. most residents in this town heeded the mandatory evacuation and got off the streets. we have had warnings that a curfew is in effect tonight and tomorrow. i can only tell you that the sand stings when it hits you and we getting east beach. >>neil: be careful. the situation now from the delaware right through new jersey where the direct impact is in a matter of hours and it could be a dramatic affect, the entire area has been completely cleared in new jersey, for example, the governor, chris christie has said don't be stupid, get out now and saying the coastal areas, many have indicate need are st the ultimate in selfish and
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stupid acts from the governor of new jersey who is saying that obligates personnel to come to their rescue and risk their lives. now, janice dean, what are we seeing? >> it is moving quicker and now we will see advisories every hour. and i expect landfall in the next hour or so, so, maybe during the slow and well bring you the latest. we have a new traffic before 5:00 p.m., but still moving quickly at 28 miles per hour to the northwest so it will make a quicker landfall than expected. 55 miles per hour southeast of cape may and the barometer is, really, unheard of, 940 millibars for the strongest hurricane ever to move into the region. and still 90 miles per hour hurricane. there is the satellite imagery
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and the center is right there, east of cape may, we think the center will come on shore in the next hour or so, with landfall in the 5:00 p.m. hour as a category one hurricane and the north side of the storm is what will pile up all the water, the storm surge which is a mound of water coming in from the ocean and could devastate highly populated areas and the winds are going to be relentless anywhere from 80 to 90 to 100 miles per hour over populated areas and we will see millions and maybe tens of millions without power not for days but perhaps for weeks. looking at monday at 6:00 p.m., you can see it is off the coast here, as it makes landfall across south jersey and central jersey and the wind and storm surge are to the north of that right across long island sound and delaware bay. it will cause major problems for
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long island, new york city, southern connecticut throughout the evening when the worse will come. the water will rise and we already have water rising in excess of 6' topping what we saw at the height of irene so the areas are seeing water rising storm surge and we could see 20' to 30' waves on top of that so this area right along here could be rewritten. it could be devastating for all of the beach areas. your daytime as we head through the evenings rain will increase, it is going to be a wind event and it will be a storm surge event. we will see incredible beach erosion. overnight, gusts at over 100 miles per hour for all of 9 areas shaded in orange as the center moves onshore in the next several hours to the north of cape may. the north si bring the worst of the storm
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surge and the worst of the rain and the worst of the wind. on tuesday, still, heavy rain and tropical storm force gusts and maybe hurricane gusts. then the snowy part of storm in feet across the appalachian mountains. that is for the record books already. >>neil: amazing. now, down to outside the new york stock exchange the sand bags are literally outside the big board headquarters and they have shut trading down today. they will shut trading down tomorrow, as william. but, today, by the way, if you keep track these side notes is the anniversary of the great 1929 stock market crash and this anniversary itself could renew market lo now, what can we expect now from what are they doing in. >> we do know that the new york
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stock exchange will be shut for a second straight day, the first consecutive day closing we have seen dating back to 1888. so that is confirmed at this point and the new york stock exchange putting out a statement today saying and i quote, "the closing of the markets is in coordination with all u.s. equities, bonds, options and derivatives markets on tuesday" and the america style exchange where oil and gold we confirmed moments ago, will be shut in lower manhattan again but the products will continue to trade by electronics and interest rate futures and stock futures we have confirmed the betrayed again tonight and stock index futures will trade again tonight but they will close early at 8:15 a.m., central time 9:15
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eastern tomorrow morning and the risk pose by hurricane sandy made manhattan the ghost town with most offices shut down. when area where traders focused was oil and gasoline, two-thirds of the refineries on the east coast were shut down and that led to a spike in gasoline prices and a sell off in oil with oil falling to levels not seen in months in the session. the new york stock exchange said in a statement it fully intends to re-open the stock exchange on wednesday october 31st which of course is halloween. all depending on the weather. >>neil: and the flooding. thank you, very much. now the chief operating officer at the new york stock exchange. larry, that ise plan on wednesday to resume activity? >> that is the plan. weather is uncertain but that is what we in the industry are working hard to get to. >>neil: people forget when trading is shut down you cannot
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trade in your 401(k) and you cannot do anything and volume abroad is affected because many tradeoff of the united states back and forth. do you think there will be long term financial impact from this? >> no, i don't think so. it is a natural disaster, there are a lot of thens going on. it will not really impact long-term confidence but the interruption like this is what most people understand and they are understanding about it. >>neil: people forget about that area, and you know this, it is very slow and the areas get very flooded and it happened after 9/11 when there was a great deal of flooding of the existing backup systems and that was among the reasons why there was a delayed opening of the exchanges. obviously, you are keeping an eye on water levels, right? >>guest: of course.
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many of the other financial firms in lower manhattan and everywhere in the city where we have workers who are stranded or particularly around the edges of the rivers, that is the storm subject -- surge area will be at the highest. >>neil: it will be hard to get in or out of that area, with holland tunnel closed and artery by artery they are shutting down the country's busiest and most populated city. we will keep a very close eye on it for you and this could have the w world paralyzed and we will bring you the storm punch by punch at 7:00 p.m. eastern and we willtinue through
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10:00 p.m. tonight and we will keep you abreast of the latest developments and how the financial community is dealing with this as well as the immediate impact of the storm hitting the united states. his is where we stand right now with sandy: she could make landfall earlier than expected. whether that is good or bad is anyone poverty guess. the feeling seems to be that when she hits land she could go deep inland and combined with a cold front to the north and another storm system developing to the west, the bottom line, this is as you have heard so often, a perfect storm, the likes of which we have not seen in this country for the better part of a coverage as the coverage and the attention it is getting. it is disrupting politics, and the president is back, of course, in washington at the white house, monitoring the
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storm and the response to the storm. this has frozen the political world. we will hear from mitt romney who hopes to be elected president a week from tomorrow. in the meantime, a mess.
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>>neil: to the left of the screen, in iowa, where mitt romney will be addressing a crowd after dramatically d the president has canceledy his. the blob on the right of the screen is the reason why, hurricane sandy not so dandy for one in five members in the path. it is a wide swath of land that could be affected. if everyone comes through, we hope and pray they do, the line is, a lot of folks for days but potentiallot only weeks and that would go right through the election. la sabato, this would be
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unprecedented. what do you do? later later it is unprecedented. this is the first time in american history that two hurricanes have affected a presidential contest in the same year. the first hurricane obviously being the one that cut a day off the republican convention. so, it is really unusual and, re, who would have thought that the october surprise was a hurricane? that mother nature would be the one generating the october surprise? look, there are lots of things that you can do if polling places are knocked out but what you can'do is to get people who might have voted to come in and vote. for example,ginia is the only big swing state involved in this natural disaster. new hampshire to a certain degree, but virginia is the big state, with 13 electoral votes. what the nightmares, for obama, in particular, northern virginia is going to be hit very
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hard. in 2008 northern vi which is the moratic party of the state provided obama's entire victory margin in the state. it took the whole downstate sely and a tie between obama and jo mccain, northern virginia did it. so, there is concern, obviously, among s, that northern virginia might see their polling places knocked out, early absentee balloting--. >>neil: but what do they do? a lotf voting machines are hooked up to outlets, right? they need power, so, you cannot vote, is it conceivable, and it sounds incredible to me that they would extend voting or make a new voting day and push it furthe back? we e in unchartered territory.
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later later --t would take a court order. we have a provision for paper ballots if the electricity is off, the polling distribute paper balld e lots of problems connected to paper ballots but at least that can be done if nothinge and we hope it doesn't get do that point. >>neil: we will watc very y. thank you, larry, very much. it will create a met if a lot another thing, the price at pump, whether good or bad, keep in mind, off the east coast and through the northeast, this is a veryig refinery wher oil is ultimately processed and made into the gasoline you use at the corner store to fill up. they shut down and will likely remain shut down and that drive prices down if it
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last as signif time, g up b supply would beprices choked. obviously, hurricane sandy spreading far and wide. more after this.
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>>neil: this is the scene right now, close, not too far from here, just up six the avenue by new york's columbus circle adjacent to central park and adjacent to the building with the dangling crane. that is construction on the world's tallest private usual building that is is in peril right now because the crane was shifting back and forth and they
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are worried about the crane collapsing and they have cleared an area about five blocks and janice dean was updating me on this and we hope to hear from her shortly. the bottom line is they have cleared that area of any traffic and now pedestrian traffic and the buildings in the area of a like height, are urged to evacuate the upper floors. this is some of the most pricey rally on planet with a penthouse in that building costing $100 million and the average unit costs $10 million. that is prime real estate area. that because it faces central park. you are in a fancy neck of the woods and surely they knew the we hurricane was coming why not take it down and an engineer said because it is 65 floors up in the air that could explain
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that but ultimately the fact that it is shaking in the wind is raising questions about whether it ultimately falls in the wind and then what? now, what do you see? >>reporter: there are a couple of things going on. first of all, in the area in midtown manhattan at 8th there are ten fire trucks on the neighboring streets and the firemen are now sort of huddleed here trying to stay out of the weather and frankly, looking at the crane, what are we going to do next. there is still a...most of the streets are blocked up but no one really is getting close to where the crane is dangling. i did talk with someone from the building commissioner's office and asked if they had any person i could talk do and they said,
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no, and they said they were just trying to figure something out right now and they said they have something figured out. so that is it at this time, this area of midtown manhattan blocked off and this crane, literally; dangling over the middle of secret dozens of stories up. >>neil: what they worry about is caught in that it drops off but it starts swinging in the wind it felts the very building that it is building. and any other structures that are in the area. obviously, that is a very, very dangerous situation. >> absolutely. and just for what it is worth on street, i was out an hour ago to walk down the street and things are changing quickly in manhattan. the wind is so powerful that it is tough to stand. if you look up at the crane you
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do not see it swinging as you would imagine but who knows what will happen. >>neil: well, you thing you see these all the time, and you do but they are not 65 floors up in the air. this is an aerial shot of the george washington bridge that connects new york with new jersey. andrew cuomo, the governor, has indicated he will be shutting the george washington bridge down and along with several other bridges including the henry hudson and the bottom line, it looks to me adding them on top of the holland tunnel and the brooklyn battery tunnel tunnel...just trying to do my math on the all the arteries here -- yes, all the premiere arteries connecting manhattan with the rest of the world, they will be shut down. shut down. i am looking at my crew, we are here.
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for the night. we are not going anywhere. new york is all but shut down in 2 1/2 hours from now you cannot get on and you cannot get off this island. that is the first time since 9/11 that we have seen this situs in the world's premiere city, certainly in america's most populous city, manhattan at 7:00 p.m. tonight will be isolated to the world. also, refineries along the east coast shug down, one after the other, and former shell oil president on that in houston, texas. what does this mean? how widespread will it be? >>guest: if you start south, this is no real problem for virginia all the way up to baltimore because they are supplied by gulf of mexico pipeline. this is no problem with distribution other than if the electricity is out, retail gas prices can not pump. in florida gas stations are
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required to have generators for just this keep of a reason that law doesn't exist except in florida. north into delaware, new jersey, pennsylvania, new york, connecticut, et cetera, the fact the refineries are shut down is not the problem. there should be three or four weeks of inventory on hand. the real problem is the distribution. if the highways are closed you cannot distribute. if the retail stations do not have electricity, they cannot pump for the retail customer. you will likely see a spike in price until things are back to normal. and then prices will generally come back to the normalness but people will be reminded how essential gasoline is to every day life. when you can not get it, that is the availability issue, when can you nut get it, you panic, and then you will go anywhere to get a tank. that will lead to gas lines and
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to a lot of people getting very, very unfriendly with one another because when it is scarce, people are desperate, and they will do strange things. so, this is not a good scene. >>neil: it is not, thank you, john, for those just tuning in, we can tell you we waiting for the arrival of hurricane sandy in and around the atlantic city, new jersey, area, and it could be up to an hour from now and it could be sooner. the storm is moving faster than they thought and whether that is good or bad remains to be seen but she is picking up speed and atlantic city is largely underwater with just the current will be more so. governor christie was urging people not to be stupid, to get out, to leave the coastal areas during a hurricane. he says not to leave is selfish and stupid. get off. get out. now. now the island of manhattan is
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slowly being cordoned off from the world. all arteries into and out of it by 7:00 p.m. tonight will be shut down. if you are here, you are staying. if you don't want to be here you better get the hell out of here. you have two hours. [ male announcer ] eligible for medicare?
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steve? >>reporter: yes, neil. conditions here are deteriorating russianly the past hour and a half we have a steady hard rain with low visibility. the wins behind me, now, at least 15' and i am standing on the boardwalk and it is over-the-top seawall and the buildings are being damaged. the winds have chewed up an iconic pier and the downtown area is flooded. we have had severe wantings from the governor of maryland telling people, this is a storm which people are going to die. stay at home. that is the message from emergency services now telling people to stay in. it is a hard sideways rain with a strong wind. this is going to get worse. i will tell you, it is bad right
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now. >>neil: be safe. all the images, the storm has not even technically hit but this is the preview of coming attractions. we also have serious flooding going on throughout the virginia area, up to a million without power right now. the governor of virginia is with us right new. governor, how is it looking? >> compared to maryland and new jersey, we going to escape the worst part of the storm but we have had serious flooding along the eastern seaboard along virginia beach and the eastern shore of virginia with a lot of national guard called up and extra utility workers and state police and, so far, no fatalities and the winded is picking up, though, in northern virginia and that is the biggest concern, a third of the population in northern virginia will get the worst of it from dusk tonight until rush hour tomorrow morning and that is our greatest concern, northern
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virginia. >>neil: the concern of people who could lose power, as you know, governor, the fear is and the warnings have gone up up and down the east coast, that it is not a matter of losing it for hours or days but weeks. is that the emergency you are conveying to residents in virginia? >>guest: we ask them to take it seriously. also,en like the other tropical events we have had, behind this storm is serious cold front and we have blizzard wantings right now just 70 miles per hours from the capitol in the mountains and western and southwestern virginia, a foot and up to 2 feet of snow above 2,000' level so we have a variety different weather events so we are asking people to stay off the road, stay inside, the power will go out in many places and it will be days before it goes back on if you have a million people without power, and we do have extra crews, 4,600 additional
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employees from around the country have come to virginia already and we will do the very best we can. but be smart and stay out of the storm and be a good neighbor and help each other. >> what do you do if the power is out on election day governor? >> we do not anticipate that. we have absentee voting, we do not have usually voting. we are asking the local registration places if they have to close, try to keep their offices on the next couple of days, either early or later or the weeknd so people have legitimate reason to vote absentee. they can do that under the law but we do not anticipate it. we have changed the priority for restoring power to move up polling places and to move up the offices to be right after hospitals and fire stations. we do not anticipate that and we hope the election will be right on time. >>neil: be well. be safe. always good to hear from you,
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governor. >> that is the other part of the storm, right? all the snow. that is in west virginia, and virginia, states not used to this will be seeing unprecedented inches of that stuff and it will be worst. that is the second phase of this, the three storms converging and make things bad particularly in the highland areas in new jersey. that state is going to be ground zero in an hour or so. .. ♪
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>>neil: believe it or not this is reagan national airport among the busiest in the united states. not so, today. virtually a no man's land. lens pretty much unable to take off or come in. 14,000 or so flights canceled today. and now, the vice president of
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operations at national keeping track of all of this for flight awareness. obviously, these all work on hub and spoke systems if you cannot fly out people as far away as arizona and california cannot fly inor pick up the planes so they are affected, as well. how wide-spread is in? >> worldwide. not only the flights in the united states, when the plane does not come in from washington, dc, the international carriers cannot come in or bring them back and people are stranded overseas until they can come back. >>neil: we should remind people, even fur not in the affected area, the ability of a plane to get to you since they subsequently come from the regions, that is next to impossible, so, you are not going anywhere. so, how long does this last? as long as the storm lasts, right? >>guest: it will last beyond the end of the storm, even if
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operations restart tomorrow morning, rather, tomorrow afternoon and get to a reasonably full situation on wednesday, it will take a while to get all the crews back in place and get the passengers on their way. >>neil: what do they do? do they go first disrupts, first served? if you are among the early ones who was disrupted you move to the front of the line in or is it just whatever. >>guest: a lost cases if you go online and change your flight, to the future or you get through to a call center and change your flight, they do it in order of applying. >>neil: any sense how this will impact just the industry? in other words, the industry is losing a lot of money, to say nothing of the inconvenience for travelers. normally what happens the industry then bombards you with
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special fares and anything to entice customers back. what do you see happening? >>guest: well, there certainly is a loss of tens of thousands of each flight that does not operate. (inaudible) after the storm there will an lot of backlog of people moving around but later in the year people are shy of flying because of the winter storms and we could see some special fares out there. >>neil: it is always an inconvenience but life tends to trump discomfort and keeping folks safe is the ultimate issue here. paramount issue is 14, 15, 20 minutes depending on the forecast, from hurricane sandy hitting land likely along the coast of new jersey and increasingly likely around atlantic city area much of it
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already underwater and that will be tested in the next few minutes coming when the governor of emergency said if you are in the areas and if you left yourself open to rescue rescuers having to rescue you have done the ultimate act of selfishness and are stupid. the governor cuomo deploying 1,300 national guard to the state of new york, mostly around the new york city area. that would eclipse the 1,000 or sore in in -- or so that were brought to manhattan. now it is as much a security as a weather concern. oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know.
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until now, we call point
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pleasant point not so pleasant. what makes hurricane sandy so unique, and it is that it is a perfect storm, it is colliding with a winter storm that is moving in from the west and, then, the cold air streaming from the north. people who are expert at this, folks like my buddy janice dean, remind me it combines for up to a foot of rain in some areas but in west virginia, a couple of feet of snow and that could go well beyond just the immediate regions. and now, one of the we storm chasers we hear about. he is chasing it in west virginia right now. we are so focused on the water and the rain and the snow is a big issue in west virginia. >> really, what makes the storm is unique it not that it is a hurricane but it is colliding with the cold air from canada
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and it will change over here, over in elkins, west virginia, with white out conditions and 3' to 4 feet of snow, and likely thunderstorms, too, it will be insane. >>neil: what makes this unique, it is just hanging there. it is not leaving although it is making landfall sooner than most people thought. so, this thing is, really, just not moving and it just dumps more and more and more snow. >>guest: the jet stream is a stagnant pattern and the hurricane is a ridge to the northeast and the upper level system to the left and causing heat and moisture and bringing snow in the higher elevations above 2,500' and it will an storm i have never seen before the likes of and i grew up in michigan. i have never seen anything like
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this, a nor'easter hybrid. >>neil: do you get a sense from the people you talk to that this is something that could compromise power, wipe out power for quite a while, right? i have been hearing for weeks. >>guest: what makes the storm unique it was a tropical system that hit an upper level system and that caused the wind shear to expand so they are expanding 500 miles away from the center so that is way it is a massive storm surge and a huge wind and affecting such a large gee graphic area and the 70-mile-per-hour wind with the blizzard on the back side of system so that has every form of extreme weather. it will be a pain. we could be trapped in west virginia for a while. >>neil: be safe, sir, thank you you have be. reed is a storm chaser. three storms are combining at the same time, and that is what makes this unite, historical and
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>> announcer: meet mary. she loves to shop online with her debit card, and so does bill, an identity thief who stole mary's identity, took over her bank accounts and stole her hard-earned money. now meet jack. after 40 years, he finally saved enough to enjoy retirement. angie, the waitress at jack's favorite diner, is also enjoying his retirement. with just a little information, she's opened up a credit line, draining the equity in jack's home. unfortunately, millions of americans just like you learn all it may take is a little misplaced information to wreak havoc on your life. this is identity theft, and no one helps stop it better than lifelock. see, ordinary credit monitoring services tell you after your identity has been stolen. they may take 30 days to alert you-- too late for jack. lifelock has the most comprehensive identity theft protection available. if mary had lifelock's bank account alerts, she may have been notified in time
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>> neil: all right. we're still keeping a close eye on a storm that could go from very bad to a whole lot worst. joe bistardi following this. chief forecaster. how bad does it get tonight? >> the storm surge in general is between 8 to 15 feet from southern new jersey all the way up to some of the back bays around here, new york city. >> neil: what does it do? >> it continues inland. that is a problem. instead of the wind shifting to the west and blowing the water out, it continues out of the southeast. the water will have a tough time going out after it reaches high tide and then it will come up tomorrow morning. not as high, but the next high tide is three or four feet lower but that is still way the heck above sea level. plus, you will get pounded by monster waves tonight. these people who are under 8, 10 feet of water, you will have 1520-foot waves coming
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ashore. i expect the new jersey shore, coney island, some of the places you won't recognize them at the end of this. boardwalks will be torn up and houses knocked down. 1944, that storm destroyed every boardwalk up and down the mid-atlantic coast. this storm will do the same thing. >> neil: extend it to atlantic city? >> guest: i think atlantic city boardwalk will suffer the same fate as '44. the '44 hurricane drove some of the boardwalk to back bay town. they found the boardwalk across the bay. >> neil: this other -- the fact it's combining and meeting the storm at the same time to make it linger and be historically hellish. >> it's blocked. big high pressure in north atlantic turned it west. upper air low. the cold low came in. the hurricane is throwing moisture to cold air. snowing to beat the band back
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in west virginia. as inland, it will weaken tonight and unwund quickly tomorrow. we'll be left tomorrow with a shadow of it. that will lurk and move off slowly to the northeast. weather will improve tomorrow. we have 12 to 18 hours of a big price to pay. >> neil: probably record number of people without power. by this time. >> it may be that. i think the biggest thing this is remembered for is destruction on jersey shore and long island. >> neil: thank you. he was on this before anyone i know was. to update you, we will don't yox business at 7:00 p.m. eastern. on the air through 10:00 p.m. to keep you aware of the storm. how it's affecting trading abroad. minute by minute. when we are on is the magic moment. when high tide hits about everything hits the fan. th

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